Analysts Set Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) PT at $8.67

Connect Biopharma Holdings Limited Sponsored ADR (NASDAQ:CNTB) has earned an average rating of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $8.6667.

Several equities analysts have commented on the stock. Lake Street Capital started coverage on shares of Connect Biopharma in a research report on Monday, December 1st. They set a “buy” rating and a $9.00 price objective for the company. Wall Street Zen upgraded shares of Connect Biopharma to a “hold” rating in a research report on Saturday, December 20th. BTIG Research reaffirmed a “buy” rating and issued a $10.00 price target on shares of Connect Biopharma in a report on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Connect Biopharma in a research note on Wednesday.

Connect Biopharma Stock Performance

NASDAQ:CNTB opened at $2.54 on Tuesday. The company has a market cap of $142.00 million, a price-to-earnings ratio of -3.48 and a beta of -0.19. Connect Biopharma has a 1 year low of $0.51 and a 1 year high of $3.28. The stock’s 50 day simple moving average is $2.53 and its two-hundred day simple moving average is $2.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.48 and a quick ratio of 5.48.

Connect Biopharma (NASDAQ:CNTB) last posted its earnings results on Wednesday, November 12th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). As a group, equities analysts anticipate that Connect Biopharma will post -0.22 earnings per share for the current fiscal year.

Institutional Trading of Connect Biopharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in Connect Biopharma during the second quarter worth $29,000. AlphaCore Capital LLC purchased a new stake in shares of Connect Biopharma in the second quarter valued at $78,000. Finally, Koa Wealth Management LLC bought a new stake in shares of Connect Biopharma in the 2nd quarter worth about $49,000. Hedge funds and other institutional investors own 58.72% of the company’s stock.

Connect Biopharma Company Profile

Connect Biopharma Holdings Ltd. is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody therapies for immune-mediated disorders. Headquartered in Singapore with a research and commercial presence in the United States, the company applies proprietary technology platforms to target novel pathways in inflammatory and autoimmune diseases.

The company’s lead product candidate, CBP-201, is a fully human monoclonal antibody that antagonizes the interleukin-31 receptor, a key mediator of chronic pruritus in conditions such as atopic dermatitis and prurigo nodularis.